Written by

Quartz Staff

June 27, 2013

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Written by

Quartz Staff

June 27, 2013

What to watch for today

China and South Korea discuss an annoying neighbor. In her first visit to China since taking office in February, South Korean President Park Geun-hye arrived in Beijing on Thursday for four days of talks, with North Korea at the top of the agenda.

Mandela appears close to the end. The 94-year-old former South African president’s condition deteriorated further, prompting President Jacob Zuma to cancel a foreign trip. President Obama is also due to visit South Africa this week on his tour of the continent.

Data deluge. US personal income and spending figures, pending home sales, and initial jobless claims are all due.

Nike’s earnings. The footwear giant is expected to post just a 2.6% increase in revenue, as sluggish sales in China outweigh strong growth in the US.

While you were sleeping

Sharing the pain on bailouts. After hours of late night discussions, European finance ministers agreed on a framework for bank bailouts. Shareholders, depositors and bondholders with more than €100,000 will be liable for some of the cost.

A double-dip recession magically disappeared. Revised UK GDP figures show that the economy didn’t, in fact, contract in the first quarter of 2012. (It didn’t grow, either.)

Roberto A. Ferdman on how Argentina’s dollar policy has blown up in its face. “In an attempt to tamp down capital flight and prevent Argentines from hoarding dollars—both of which deprive the central bank of foreign reserves—Kirchner has, since late 2011, progressively introduced a series of forcible measures known as the ‘dollar clamp’ that restrict Argentines’ ability to buy them. But a problem has surfaced. By limiting access to dollars, the government has made them more desirable, and led to even fewer of them reaching the central bank than before.” Read more here.